Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Elon Musk, the iconic CEO of American electric vehicle and clean energy company Tesla and aerospace manufacturer and space transportation services company SpaceX has revealed that he would not mind getting paid in Bitcoin.
Elon Musk revealed his stance toward Bitcoin in a Twitter conversation over the weekend in which he responded to a tweet from Ben Mezrich, the author of the Bitcoin Billionaires’ bestselling book about the Winklevoss twins, who noted that he would never turn down payment in Bitcoin again. Musk simply responded to the tweet saying “Me Neither.”
— Elon Musk (@elonmusk) January 9, 2021
Both Bitcoin and Tesla Inc (NASDAQ: TSLA) and SpaceX CEO made headlines in the past week all for good reasons. Bitcoin reportedly broke several All-time high milestones last week surpassing the $42,000 price mark for the first time in its history. The pump has been reportedly stirred by a host of rich companies and investors buying up the coin with the hopes that its values will skyrocket in the near future. Elon Musk on the other hand became the world’s richest man beating the record previously held by Jeff Bezos, the Chief Executive Officer of Amazon.com Inc (NASDAQ: AMZN), as well as Warren Buffett, the CEO of Berkshire Hathaway Inc (NYSE: BRK.A) to mention a few.
Bitcoin to Get a Big Backing if Tesla and SpaceX CEO Goes Bullish on the Coin
While the cryptocurrency industry, just like the stock market is known to be influenced by sentiments, Bitcoin may get a remarkable boost if the Tesla and SpaceX CEO takes a bullish position with the coin, either through payment collections or by buying more of the coin to boost his current holdings pegged at 0.25 BTC.
While BTC will receive a new boost if Elon Musk should declare he has made new purchases of the coin based on his current economic and influential status, the move will not be new in the crypto sphere as top investors and billionaires including Paul Tudor Jones, Chamath Palihapitiya, and Michael Saylor to mention a few have made similar moves by investing in BTC in the past year.
The influence of these investors on BTC will always be resounding as they serve as a model for numerous retail investors around the world who observe the moves and activities these successful entrepreneurs make and copy the same process.
At the time of writing, Bitcoin was down 2.45% to $39,575.01 according to crypto data aggregator CoinMarketCap.